Bad Credit Is OK! – No Startups!
Our 2-minute application saves you a lot of time, as does our 24-hour approval process. We collect only the information we need, and get you approved and funded quickly. If you need a business loan fast, simply simply fill out the pre-approval form above now!
You Can Get a Business Loan With Bad Credit
If you are trying to get a bad credit business loan in Lawton, OK, First Choice Business Capital can help. At First Choice, we are aware of how difficult and bothersome it can be if you have a bad credit score and you’ve been getting declined from conventional banks for backing. That’s the reason that we have dedicated ourselves to making business-funding solutions readily obtainable to all business organizations regardless of a bad credit history.
How Attainable Are Business Loans With Insufficient Credit?
Recent reports show, a whopping 70% of businesses doesn’t qualify for a bank loan.Businesses with bad credit get denied for loans more often than not. This could be due to the fact that companies may also have a judgment or lien against them. Once a bank turns down a loan, the business often gives up the search for funds. However, there are still other options available.
A business certainly cannot keep its doors open without a cash flow. The economy collapsed in 2008, and ever since then, it has become extremely challenging for companies to secure loans.New regulations implemented after the economic crash has made getting hold of capital almost impossible.These new regulations apply to small and medium-sized entities. This means that those companies with no more than 50 employees are the ones affected. Nonetheless, alternate lenders have stepped in to help solve this dilemma.
No matter what you may have heard, it is certain that there are other options available in the market for businesses besides standard banks when credit is an issue.High-risk lenders like First Choice Business Capital can certainly provide quick approvals and no-nonsense funding solutions.
Bad Credit Business Loan Options in Lawton, OK
Perhaps you are one of the businesses that are unaware that short-term loan alternatives are out there. Unsecured short-term loans are available to businesses much like yours! It’s possible that you are feeling apprehensive because you have no collateral and bad credit. However, you can stay rest assured that there are still loans on call for your needs.
Subpar credit aside, you can obtain business loans in spite of bad credit, because less than excellent credit does not equal a denial. First Choice Business Capital delivers business loans with inadequate credit and fund loans within 24 hours. First Choice not only has a high approval process but a quick one as well. We understand the dire need to obtain the working capital you need. We also understand that you need the money now, and pride ourselves in assisting you get financed as rapidly as possible.
Business Cash Advances, Unsecured Loans and Short-Term Loans
Alternative lending such as these are often referred to as a merchant cash advance, or MCA. Business loans for poor credit are a true lifesaver for those companies that have been turned down by banking institutions because of their credit score. Since collateral is not required for a business cash advance, it is easier than ever to qualify. This makes the approval procedure even easier! We only require that your company has been in business for three months minimum and that you deposit between 8 to 10 thousand dollars monthly.
Merchant Cash Advantage Perks
There are quite a few advantages to MCAs. One of the biggest perks about these types of loans is that as pointed out prior, it offers extraordinarily fast funds compared to that of a traditional bank. Above 90% of all inquiries get a loan approval. Plus, loans are funded within 48-96 hrs. after a loan approval. The process for a loan approval is very straightforward, since one simple application is everything that is needed. You will need to provide bank statements from the last six months, in order to get approved quickly. That is all we need to begin the approval process on your loan.
These loans are suitable for those that need a bad credit loan fast. A merchant cash advance is a short-term business loan that can get you operating again. These loans are generally paid back in fewer than 18 months, some as little as four months. These types of business loans also have a fixed cost of capital. You can make your payments by the day or by the week. Repayments can be made every business day and with a MCA there are usually 20-22 payments each month.
What Category of Businesses Can We Team Up With?
Short-term business loans bad credit can be obtained by many types of businesses. A merchant cash advance company like First Choice will not discriminate based on business type. The list below is a smattering of the types of businesses we want to hear from: Automotive/Mechanic Repair Workshops, Auto Body Repair and Painting, Pubs and Restaurants, Beauty Shops, Carpentry, Construction, Driveway and Parking Pavement, Gas Service Stations, General Building Contractors, Home Health Companies, HVAC, Interior Decorators, Masonry and Stone, Pest Control, Rigging and Scaffolding, Tire Shops, Trucking, Water Well Drilling, Wrecking and Demolition companies and more. These markets and more are entitled to business loans when you lack credit. As you read before, the application process is easy and the criteria minimal. If you have credit issues affecting your ability to obtain a loan, First Capital can help.
What States Do We Partner with?
Merchant cash advances are also offered in the following states: Wisconsin, Wyoming, West Virginia, Washington, Virginia, Vermont, Utah, Texas, Tennessee, South Dakota, South Carolina, Rhode Island, Pennsylvania, Oregon, Oklahoma, Ohio, North Dakota, North Carolina, New York, New Mexico, New Jersey, New Hampshire, Nebraska, Nevada, Montana, Missouri, Mississippi, Minnesota, Michigan, Massachusetts, Maryland, Maine, Louisiana, Kentucky, Kansas, Iowa, Indiana, Idaho, Illinois, Hawaii, Georgia, Florida, Delaware, Connecticut, Colorado, California, Arkansas, Arizona, Alabama and Alaska.
Picking a Legitimate Lender of a Bad Credit Business Loan
For companies with below average credit looking to receive a bad credit small business loans, always check the reputation of the agent. You should be careful, as maneuvering through all the different lending institutions can be a little tricky.
Sometimes borrowers are unintentionally declined based on providing the wrong information to the lenders. A respectable brokerage house should have extensive knowledge of the industry. They should know how to get businesses financed by the lenders available to them, and they should have an extensive knowledge of the process.
You will also want to ensure the brokerage firm is not introducing your deal to a wide variety of lending institutions. A borrower’s credit score can be detrimentally affected when the application is shopped around to multiple lenders. You want to choose a legitimate company like First Choice Business Capital to be certain that this does not happen.
If You Need a Bad Credit Business Loan, Call Us Without Delay
There is no need to hesitate for your credit score to make improvements in your business.You don’t have to let any business opening pass you by, and don’t have to forfeit your personal belongings or property to use as collateral for a loan. Call us now, or complete the short online application to get the process started right now!